Chances of 'no landing' grows by the day: Bank of America
Odds for a “no landing” scenario for the US economy grow by the day, Bank of America economists said in a Friday note, updating their outlook.
“That said, we expect the tailwind from these forces to gradually fade and US outperformance should narrow,” economists added. However, economists also anticipate that immigration flows will slow, bringing trend growth back to pre-pandemic levels of approximately 1.8%. Despite the projected GDP growth slowdown, they expect it to remain at trend through 2026.
BofA also reiterated its 2024 view, expecting inflation to decelerate but remain sticky due to the slow decline in services inflation.
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